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Regional Development Agencies Act 1998

Changes over time for: Section 5

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Version Superseded: 31/03/2012

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5 Powers.E+W

(1)Subject to the following provisions of this Part, a regional development agency may do anything which it considers expedient for its purposes, or for purposes incidental thereto.

(2)A regional development agency may only—

(a)give financial assistance,

(b)dispose of land for less than the best consideration which can reasonably be obtained, or

(c)form, or acquire an interest in, a body corporate,

if the Secretary of State consents.

(3)A regional development agency may only provide housing by acquiring existing housing accommodation and making it available on a temporary basis for purposes incidental to its purposes.

[F1(4)Subsection (2) has effect in relation to the London Development Agency as if the reference to the Secretary of State were for the purposes of paragraph (c) a reference to the Mayor of London.]

Textual Amendments

F1S. 5(4) inserted (3.7.2000) by 1999 c. 29, s. 309, Sch. 25 para. 2 (with Sch. 12 para 9(1); S.I. 2000/801, art. 2(2)(c), Sch. Pt. 3

Modifications etc. (not altering text)

Commencement Information

I1S. 5 wholly in force at 3.7.2000; s. 5 not in force at Royal Assent see s. 43; s. 5 in force for certain purposes at 25.11.1998 by S.I. 1998/2952, art. 2(2); s. 5 in force at 3.7.2000 in so far as not already in force by S.I. 2000/1173, art. 2(2)(c)

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